Immunocore (NASDAQ:IMCR) Stock Price Target Cut by Morgan Stanley

Immunocore (NASDAQ:IMCR) had its price target reduced by Morgan Stanley from $43.00 to $42.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley‘s price objective points to a potential upside of 40.76% from the company’s current price.

A number of other research firms also recently weighed in on IMCR. Zacks Research downgraded Immunocore from a “hold” rating to a “strong sell” rating in a research report on Monday. HC Wainwright dropped their price target on Immunocore from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday. Mizuho upped their price objective on shares of Immunocore from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. TD Cowen upgraded shares of Immunocore to a “strong-buy” rating in a research note on Monday, August 24th. Finally, JPMorgan Chase & Co. began coverage on shares of Immunocore in a report on Friday, August 21st. They issued an “overweight” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $52.86.

Immunocore Stock Down 2.1%

Shares of IMCR traded down $0.64 on Friday, hitting $29.84. The company’s stock had a trading volume of 112,505 shares, compared to its average volume of 462,579. The firm’s fifty day moving average price is $31.22 and its 200-day moving average price is $31.66. The company has a quick ratio of 4.44, a current ratio of 4.62 and a debt-to-equity ratio of 0.94. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of -45.84 and a beta of 0.82. Immunocore has a fifty-two week low of $27.50 and a fifty-two week high of $40.71.

Immunocore (NASDAQ:IMCR) last released its quarterly earnings results on Friday, November 6th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.11). Immunocore had a negative net margin of 7.48% and a negative return on equity of 7.96%. The business had revenue of $102.22 million during the quarter, compared to analyst estimates of $152.09 million. On average, equities research analysts expect that Immunocore will post -0.20 EPS for the current year.

Institutional Investors Weigh In On Immunocore

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake in Immunocore by 202.8% in the second quarter. GAMMA Investing LLC now owns 1,920 shares of the company’s stock valued at $61,000 after purchasing an additional 1,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Immunocore in the third quarter valued at approximately $72,000. denkapparat Operations GmbH bought a new position in Immunocore during the second quarter valued at $209,000. Juncture Wealth Strategies LLC purchased a new stake in Immunocore in the third quarter worth $207,000. Finally, Headlands Technologies LLC bought a new position in Immunocore during the second quarter valued at approximately $290,000. 84.50% of the stock is currently owned by institutional investors and hedge funds.

Immunocore Company Profile

Immunocore is a biotechnology company that develops T cell receptor (TCR)-based medicines for cancer and other diseases. Its ImmTAX platform is designed to create therapies that direct the body’s T cells toward targets inside cells, including targets that may be difficult for conventional antibody treatments to reach. The company’s marketed medicine, KIMMTRAK (tebentafusp-tebn), is a TCR-based therapy approved in the United States and other markets for certain patients with unresectable or metastatic uveal melanoma.